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Small tasks turns into an open ended contracting gig

June 19th, 2015 at 06:38 pm

Good news is it looks like I may have found some place I can rest my laurels on for a bit so thats good.

I'm still waiting for them to revise my contract. I had to take a cut in pay too which is irritating but since I am now an LLC I can figure out some ways to make that less painful.

I am still trying to make my goals so its going to be rough. I need to pay off some debt racked up on a credit card from a recent trip, pay off car insurance in full because it's just easier that way and saves us another 12 bucks or so.

Then I have to make sure I take out enough for taxes, finally set up a real retirement account, and then save up for a car and a house.

It's crazy but I'm sure I'll level out. I'll update my totals soon but very very good news is I'm now down to 5 students loans and maybe soon 4.

The student loans make it hard for me to justify getting another car loan. I have to figure out a way to save up enough money to get a car in cash that is not crappier than the one I already own. I'm really determined not to get another car loan if I can help it.

My dad mentioned something about possibly being able to get some grants as an LLC to help pay off student loans etc so I'll look into that to see if I can't expedite the process. All pretty exciting!!

Update: Column has been updated to reflect new balances. Which were just depleted by a quarterly tax payment that was due the same week I started at a higher rate. This will be rectified soon though.

2 Responses to “Small tasks turns into an open ended contracting gig”

  1. VS_ozgirl Says:

    I notice your credit card interest rates are really high - is there a way to get a card with a lower interest rate, or do you have to wait until you have regular income? As for the car- I empathise- I've always hated car loans but sometimes you have to bite the bullet and get one. Maybe look at slightly better cars than what you have? (So instead of getting an awesome car, simply get a newer more reliable car that costs not much more than your current car)

  2. Permanent Temp Says:

    Not an option sadly I have tried to get them to do this every year for 8 years and no luck. But I haven't paid a dime of interest since 11/13 so that doesn't really matter I guess. My pay is steady I'm full time its just I choose this method of pay because my spouse has better health insurance than this job could offer me, it was in my and his best interest to get a better pay rate than a sub par health insurance and benefit package. Especially since I am covered under his insurance, the "bonus" and "vacation days" they offer wouldn't even come close to making up for the gap in pay and as a sole proprietor LLC I can create my own retirement plan. As well as a myriad of other tax benefits that come with working this way.

    I never buy a new car not only do I hate the stupid buttons instead of an ignition but I despise paying a loan on a rapidly depreciating asset, I know it still does this as a used car but since its a slower process I'm okay with it. Slightly better cars than the one I have now cost a lot and to me a lot is over 10K which is why you can see my options are few for cash only especially since I need to it be under 100k miles due to my commute. I just simply have no idea what I'm going to do if it comes down to it. My car is only worth like 4K if I were to sell it and I don't have any cash to cover the difference at the moment. If I get a car loan I can no longer get ahead on the student loans. And that would be $400 bucks or so going out to loans not counting other regular bills so I'm not really looking forward to that.

    Right now I'm trying to focus on paying off the brand new over-indulgent cc debt. By making sure I stay in my allotted spending money (it worked well before last time I had a well-paying position.) Then I have to get ahead of my new bills (car insurance etc.) Then I have to make sure I have my tax money saved to pay out. While I'm doing that I'll be making sure the money from my other job goes direct to my emergency fund in case something bad happens I'll have money and won't have to put anything on a cc.

    By September if everything works out I'll be free to finally start a retirement plan and allot money to other goals like investing cash, saving for a new car, putting extra money toward student loans to get rid of them etc.

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